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Message
Why is the price of oil going up?
Posted on 4/6/10 at 9:54 am
Posted on 4/6/10 at 9:54 am
Is it just that summer is approaching or do you think something else is going on? Of course, there are probably many reasons, but what are your theories?
5
Posted on 4/6/10 at 10:32 am to baybeefeetz
For what it is worth, I heard on the radio yesterday that it has NOTHING to do with supply/demand BUT that it is speculators ... this is NOT me saying this but repeating what I heard to answer your question.
???
???
Posted on 4/6/10 at 10:44 am to tiger91
If this is another speculation run, it's a good time to buy futures as the summer run-up hasn't started yet.
Posted on 4/6/10 at 10:48 am to tiger91
My money is on
quote:While they go kicking and screaming that it isnt them the proof is in the pudding. When gas prices fell from the stupid high prices a couple of years ago it has nothing to do with supply/demand. The stock market tanked.
speculators
Posted on 4/6/10 at 11:03 am to Catman88
quote:
When gas prices fell from the stupid high prices a couple of years ago it has nothing to do with supply/demand.
Funny how that happened RIGHT AFTER then-President Bush removed executive restrictions on an assload of territory, eh? IIRC, that happened during the summer. "Speculation doesn't cause price jumps" my arse.
Posted on 4/6/10 at 3:14 pm to Bard
Speculators drove it up to near $150 before and it'll happen again. Remember when the oil analysts and others had us believe it was a supply issue and would never drop below $115?? 
All the time they were making bank in the futures markets.
All the time they were making bank in the futures markets.
Posted on 4/6/10 at 8:57 pm to TejasHorn
Buy ERX and forget about it!
Posted on 4/6/10 at 9:41 pm to tiger91
quote:
it has NOTHING to do with supply/demand BUT that it is speculators
Of course! Speculators (whoever the hell those are) don't have anything at all to do with supply and demand! They're just playing around in a really thinly-traded market to drive things around and big multinational oil companies are at their mercy.
[/sarcasm]
Posted on 4/6/10 at 9:50 pm to foshizzle
For what it's worth, I tried hard to make it clear that the question had been asked and answered on one of the talk radio shows ... NOT MY OPINION OR ANSWER.
Posted on 4/6/10 at 9:52 pm to Catman88
quote:Do you mean the direct inflation, remeber bushs stimulus checks.
While they go kicking and screaming that it isnt them the proof is in the pudding. When gas prices fell from the stupid high prices a couple of years ago it has nothing to do with supply/demand. The stock market tanked.
Posted on 4/6/10 at 10:12 pm to Tiger4
Oil price posts should probably stay on the poliboard, as they seem to breed dumb in many forms.
Posted on 4/6/10 at 10:21 pm to Tiger4
quote:
Do you mean the direct inflation, remeber bushs stimulus checks.
Posted on 4/7/10 at 11:06 am to baybeefeetz
futures trading=guessing
Posted on 4/7/10 at 11:21 am to lsugorilla
Well, it should at least be educated guessing. For example, cotton farmers should do pretty damn well at trading cotton futures, and a lot of them do.
Posted on 4/7/10 at 11:36 am to baybeefeetz
quote:
Is it just that summer is approaching or do you think something else is going on? Of course, there are probably many reasons, but what are your theories?
Supply/Demand plus futures trading (speculation). For the most part the oil supply is a mystery - the Saudis are very tight with info on their production.
Posted on 4/7/10 at 1:46 pm to cwill
quote:
For what it is worth, I heard on the radio yesterday that it has NOTHING to do with supply/demand BUT that it is speculators ... this is NOT me saying this but repeating what I heard to answer your question.
Bingo, when oil was 150 a barrel the surplus stock actually rose by about 4.3 percent. If it was solely based on supply and demand gas would maintain about 2.20 a gallon.
Posted on 4/7/10 at 2:08 pm to GREENHEAD22
Damn brah, you know the real supply and demand of the entire global oil market? I think you could probably make several million, maybe billions, of dollars with that kind of knowledge.
Posted on 4/7/10 at 2:27 pm to kfizzle85
Are you actually dumb enough to claim that there wasnt an artificial bubble in 2008 for oil?
Posted on 4/7/10 at 2:31 pm to Catman88
quote:
Damn brah, you know the real supply and demand of the entire global oil market? I think you could probably make several million, maybe billions, of dollars with that kind of knowledge.
I dont have to know it you smart arse, I can look up the reports that say it, give it a try slick rick.
Posted on 4/7/10 at 2:31 pm to Catman88
wtfmate? 
99.9% sure I haven't even remotely insinuated that. Might just be "that dumb" though, idk.
ETA: In a completely ironic moment, I just started "The Supply of Natural Non-Renewable Resource" section in the Econ book for the CFA. I probably shouldn't even bother.
99.9% sure I haven't even remotely insinuated that. Might just be "that dumb" though, idk. ETA: In a completely ironic moment, I just started "The Supply of Natural Non-Renewable Resource" section in the Econ book for the CFA. I probably shouldn't even bother.
This post was edited on 4/7/10 at 2:37 pm
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